State and Federal Incentives

Economic and Business Incentives

DOWNTOWN ATLANTA OPPORTUNITY ZONE - JOB TAX CREDIT

The Georgia Department of Community Affairs' popular program has been approved for two areas in Downtown Atlanta. Opportunity Zones are an important state redevelopment tool that provides local companies with increased incentives and benefits for job creation. An Opportunity Zone allows companies located within its boundaries to receive $3,500 per job per year for five years: a total of $17,500, for every net new job created. Any legal business entity creating two or more jobs within one year could qualify for these credits. For further detail on the program click here or visit Invest Atlanta's website for program specifics and requirements. For a map of the Opportunity Zones within the City, click here.

GEORGIA JOB TAX CREDIT

Provides for a statewide job tax credit for any business or headquarters of any such business engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries, but does not include retail businesses. Call the Georgia Department of Community Affairs at 404-679-4825 or get more information here.

RETRAINING EMPLOYEES

A tax credit equal to 50% or up to $500 for the cost of retraining each full-time employee to companies that provide qualified retraining. Call the Georgia Dept. of Technical & Adult Education at 404-679-2901. www.dtae.org/econdev/retrain.html

QUALITY JOBS TAX CREDIT

Companies that create at least 50 jobs and pay wages at least 110% of the county average are eligible to receive a credit of $2,500 to $5,000 per job per year for up to 5 years. For more information, see here.

R&D TAX CREDIT

A 10% credit allowed for research expenses for research conducted within Georgia by qualified businesses. For more information, call the Georgia Dept. of Revenue at 404-417-4477 or read here.

CAPITAL INVESTMENT EXEMPTIONS

Sales and use tax exemptions are available for machinery purchased for qualified uses, primary material handling equipment purchased for qualified uses, and electricity purchased for manufacturing when the total cost of the electricity exceeds 50% of cost of materials used in the process. Call the Georgia Dept. of Revenue at 404-417-6601.

QUICK START

The state offers free, customized workforce training for companies that qualify. The program covers training development costs and can be conducted on site. Call 404-679-2901 or find more information here.

SBA 504 LOAN PROGRAM

This long-term financing tool is designed to encourage economic development in a local community. Financing is provided to small businesses through this loan program and is administered locally by Fulton County. More information can be found here or by calling Fulton County at 404-836-7731.

Residential Incentives (Single and Multi-family)

AFFORDABLE RENTAL HOUSING DEVELOPMENT FINANCE

DCA's rental housing finance programs work with for profit, nonprofit and government partners to build or rehabilitate rental housing in Georgia. Funding is available to private sector for profit and nonprofit developers through DCA’s Office of Affordable Housing. DCA's Office of Housing Planning and Administration provides financing to public housing authorities and nonprofit organizations to develop affordable rental housing. Click here for more information.

LOW INCOME HOUSING TAX CREDITS

LIHTC provides equity capital for affordable housing. Low/Mod income housing developers compete for Federal tax credit financing. Location eligibility is citywide but criteria favor Community Development Impact Area (CDIA). Georgia Department of Community Affairs (DCA) is the responsible agency. For more information, click here or call (404) 679-4940.

AFFORDABLE HOUSING PROGRAM (AHP)

The AHP Program is a flexible source of funding designed to help community partners develop affordable owner-occupied and rental housing for very low- to moderate-income families and individuals. Developers need to work through a FHLBank Atlanta member institution to apply for the funds, up to $500,000. More information can be found here.

Commercial Incentives

REGIONAL ECONOMIC ASSISTANCE PROGRAM (REAP)

Provides a mechanism for local and state governments and the private sector to cooperate on large-scale tourism-related projects with multiple uses that will create jobs and enhance the local tax base. See here for more information.